Vontobel Holding Ltd. Purchases 8,378 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

Vontobel Holding Ltd. boosted its position in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,088 shares of the technology company’s stock after buying an additional 8,378 shares during the period. Vontobel Holding Ltd.’s holdings in The Descartes Systems Group were worth $11,182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DSGX. Triasima Portfolio Management inc. purchased a new position in shares of The Descartes Systems Group in the 4th quarter worth approximately $11,760,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Descartes Systems Group by 497.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 428,279 shares of the technology company’s stock worth $36,001,000 after purchasing an additional 356,560 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of The Descartes Systems Group by 4.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 6,529 shares of the technology company’s stock worth $541,000 after purchasing an additional 282 shares during the period. Trust Point Inc. purchased a new position in The Descartes Systems Group during the 4th quarter valued at $781,000. Finally, Fenimore Asset Management Inc. boosted its holdings in The Descartes Systems Group by 0.6% during the 4th quarter. Fenimore Asset Management Inc. now owns 135,447 shares of the technology company’s stock valued at $11,386,000 after acquiring an additional 800 shares during the period. 77.73% of the stock is owned by institutional investors.

The Descartes Systems Group Price Performance

Shares of NASDAQ:DSGX opened at $90.90 on Wednesday. The business’s 50-day moving average is $89.62 and its 200 day moving average is $83.56. The Descartes Systems Group Inc. has a 1 year low of $69.59 and a 1 year high of $94.54. The firm has a market capitalization of $7.74 billion, a P/E ratio of 67.84 and a beta of 0.94.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $146.62 million. The Descartes Systems Group had a return on equity of 9.80% and a net margin of 20.23%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. On average, analysts expect that The Descartes Systems Group Inc. will post 1.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DSGX. Royal Bank of Canada restated an “outperform” rating and set a $110.00 price objective on shares of The Descartes Systems Group in a report on Thursday, April 11th. StockNews.com upgraded The Descartes Systems Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Raymond James boosted their price objective on The Descartes Systems Group from $84.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. William Blair restated an “outperform” rating on shares of The Descartes Systems Group in a report on Monday, April 1st. Finally, Wolfe Research upgraded The Descartes Systems Group from a “peer perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $98.44.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.